New Delhi: Mahanadi Coalfields Limited (MCL) has signed a Memorandum of Understanding (MoU) with Indian Institute of Management Sambalpur to fund the development of a 450-bedded girls’ hostel at the institute’s campus, with an investment of Rs 44.54 crore under its Corporate Social Responsibility (CSR) initiative.

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The MoU was executed between MCL’s General Manager (CSR) Jyotirmay Sinha and IIM Sambalpur Director Mahadeo Jaiswal.

The project entails the construction of three G+5 hostel buildings equipped with modern amenities, including lifts, solar water heating systems, CCTV surveillance, fire safety systems and air conditioning. The development is expected to significantly enhance residential infrastructure at the institute.

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According to the company, the initiative aims to create greater opportunities for female students to pursue management education by improving campus accommodation facilities.

MCL said that through this collaboration it aims to social development through education and aligns with the broader objective of promoting gender inclusivity in premier educational institutions in the state.

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